FAQ's
From consulting and strategy development to implementation and support, EIN Credit Funding's comprehensive services can help your business thrive in 30 days!
Is business credit real?
Yes, business credit is real. Just like you have a credit file linked to your SSN, your business has a credit profile linked to its EIN. Credit bureaus like Experian, Equifax, and Duns & Bradstreet often create your business profile when you apply for loans, credit cards, or even basic utilities.
However, most credit won't report to business credit agencies unless you apply for specific types of credit in the right order or omit your SSN from the application.
It's possible to obtain real business credit without providing an SSN. This type of credit won’t appear on your personal credit reports. As you build your business credit, your EIN profile and score become crucial in qualifying for bank loans and credit cards. You can use EIN credit alone to get approved for various types of credit without a personal guarantee.
Every highly successful privately and publicly owned company in the U.S. has business credit.
What many don’t realize is that even startups can obtain it by following the right steps.
Can individuals with poor credit obtain funding through the EIN Credit Funding Business Finance Suite?
Building business credit correctly often eliminates the need for a credit check for business owners to qualify. This means that all business owners, including those with poor credit, can benefit from the EIN Credit Funding Business Finance Suite by building business credit.
For business owners facing credit challenges who have collateral, funding can still be obtained in addition to building business credit. Funding can be secured in as little as 30-60 days, and various forms of collateral are accepted, such as credit card sales, inventory, equipment, receivables, and consistent revenue.
We offer revenue-based funding programs where business owners with a credit score as low as 500 can be approved, provided they can demonstrate consistent revenue through bank statements.
How Does EIN Credit Funding Help with Business Credit and Funding?
While there are no formal business credit repair laws similar to personal credit repair, such as the FCRA or FACTA, we are dedicated to helping you resolve any discrepancies on your business credit reports. As our team guides you through the process, ensuring accuracy and timeliness reflects on your business information.
The EIN Credit Funding Business Finance Suite focuses primarily on building your business credit and unlocking funding opportunities. We provide tools and strategies to help you establish and grow your business credit profile while connecting you with various funding options to support your future growth and success.
What is a business credit score?
A business credit score is a numerical representation of a businesses creditworthiness and financial health. Similar to personal credit scores, which reflect an individuals creditworthiness, business credit scores assess a company's ability to manage debt and repay creditors.
These scores are typically calculated by credit bureaus such as Dun & Bradstreet, Experian, or Equifax, based on various factors including payment history, credit utilization, length of credit history, and public records. A higher business credit score indicates lower credit risk and can improve a company's ability to secure financing, negotiate favorable terms with vendors, and expand its operations.
What types of funding options are available through the EIN Credit Funding Business Finance Suite?
Through the EIN Credit Funding Business Finance Suite, several funding options are available to support business growth and operations here are a few:
1. Vendor Credit: Obtain credit from suppliers and vendors for goods and services, often with favorable terms for business-to-business transactions.
2. Business Credit Cards: Access revolving credit lines specifically designed for business expenses, with varying rewards and benefits.
3. Fleet Cards: Secure cards tailored for fuel and vehicle maintenance expenses, often with reporting options that aid in managing and tracking fleet expenditures.
4. Term Loans and Lines of Credit: Qualify for traditional loans and credit lines based on your businesses creditworthiness, typically offering flexible repayment terms and competitive interest rates.
5. Equipment Financing: Obtain financing specifically for purchasing or leasing equipment needed for business operations, often with the equipment itself serving as collateral.
6. Revenue-Based Financing: Access funding based on your businesses revenue stream, with repayment terms structured around your revenue cycles.
7. Invoice Factoring: Convert outstanding invoices into immediate cash flow by selling them to a third-party factor at a discounted rate.
These funding options through the EIN Credit Funding Business Finance Suite cater to various business needs, providing flexibility and support for business owners aiming to expand, manage cash flow, or invest in necessary assets.
How can I establish business credit without using my personal credit?
Establishing business credit without using personal credit involves several key steps:
1. Incorporate Your Business: Form a legal business entity such as an LLC or corporation to separate personal and business finances.
2. Obtain an EIN: Obtain an Employer Identification Number (EIN) from the IRS, which serves as the businesses identification number for tax purposes.
3. Open a Business Bank Account: Open a dedicated business bank account in the name of your business to manage finances separately.
4. Apply for Vendor Credit: Start applying for vendor accounts reporting payment history to business bureaus like Dun Bradstreet, Experian, or Equifax.
5. Use Business Credit Cards: Apply for business credit cards in the name of your business and use them responsibly to build credit history.
6. Monitor and Manage: Regularly monitor your business credit reports to ensure accuracy and manage your credit profile effectively.
At EIN Credit Funding, we assist you through this process with our comprehensive software program and dedicated coaches included with your purchase. Our tools and expert guidance are designed to simplify the steps of building business credit without relying on personal credit, helping you achieve financial independence and growth for your business.
What is EIN Credit and why is it important?
EIN Credit refers to credit that is linked to a business Employer Identification Number (EIN) rather than the owner's Social Security Number (SSN).
The EIN# allows business owners to establish and build a separate credit profile independent of personal credit. This is crucial because it helps protect personal assets, improves access to financing and vendor relationships, and enhances the credibility and financial health of the business. EIN Credit Funding is essential for businesses looking to grow, expand, and secure funding without relying on personal credit.
How long does it take to get Business Credit?
To start receiving business credit, you can qualify for vendor credit almost immediately. Within 60-90 days, you may begin to qualify for store credit without requiring a personal credit check or guarantee. In about 6 months, you could access $50,000 in usable credit, including Visa and MasterCard accounts. Over one to two years, you can build your credit to $100,000-$250,000 or more.
Additionally, EIN Credit Funding can provide access to other cash funding programs within a couple of months or less.
Is this business credit repair or building?
The information provided focuses on business credit building. It describes how you can start qualifying for vendor and store credit immediately, while building up to significant credit limits over time, and access cash funding programs.
Business credit repair would typically involve improving and correcting existing business credit issues, which is a different process. After we evaluate your business financial needs we will see what focusing you require to qualify fast!
What are the benefits of having strong business credit?
Having strong business credit offers several advantages:
1. Access to Financing: Strong business credit increases your chances of qualifying for loans, lines of credit, and business credit cards. It allows you to secure financing at better terms and lower interest rates.
2. Vendor Relationships: Businesses with good credit can negotiate better terms with vendors, suppliers, and leasing companies. This often includes extended payment terms and higher credit limits.
3. Separation of Personal and Business Finances: Establishing business credit helps separate personal and business finances, protecting personal assets in case of business liabilities.
4. Business Credibility: A strong credit profile enhances your businesses credibility and reputation in the eyes of lenders, suppliers, and customers.
5. Expansion Opportunities: With strong credit, businesses can expand more easily by investing in new equipment, hiring additional staff, or expanding into new markets.
6. Insurance Premiums and Leasing: Some insurance companies and leasing agencies use business credit scores to determine premiums and lease terms, potentially lowering costs for your business.
Overall, strong business credit is essential for growth and financial stability, providing access to resources and opportunities that can propel your business forward.
Can startups qualify for business credit?
Yes, startups can qualify for business credit. While it may be challenging for brand-new businesses without established revenue or credit history, there are steps startups can take to build business credit:
1. Incorporate Your Business: Form a legal business entity such as an LLC or corporation.
2. Obtain an EIN#: Obtain an Employer Identification Number (EIN) from the IRS.
3. Open a Business Bank Account: Open a dedicated business bank account to separate personal and business finances.
4. Apply for Vendor Accounts: Start building credit by applying for vendor accounts that report payment history to business credit bureaus.
5. Use Business Credit Cards: Apply for and use business credit cards responsibly to establish credit history.
6. Monitor and Manage: Regularly monitor your business credit reports to track progress and address any issues.
At EIN Credit Funding, we provide guidance and tools to help startups navigate the process of building business credit, enabling them to qualify for financing and grow their business effectively from the outset.
What does the EIN Credit Funding Business Finance Suite help me do that I can't do on my own?
While our free guides, articles, videos, and seminars provide enough knowledge to obtain business credit on your own, there are still services you would need to pay for, such as 411 listings, business credit monitoring, and a business credit builder to ensure you're reporting to the right agencies (which can cost over $3000). Additionally, you'll have to choose the vendors and lenders you need.
With us, you leverage our established partnerships and affiliations, which allows us to fully utilize the power of our entire company and client base for each individual client. This means you benefit from our company's multi-million-dollar deals, resulting in higher limits, lower rates, and longer terms from our sources.
Our established credibility in the business credit and financing industry allows us to continually expand and add more funding sources and options, directly benefiting you. This is why we have the largest supply of vendors and credit issuers compared to anywhere else.
In summary, attempting to get business credit and financing on your own or elsewhere would cost much more and take significantly longer. Our streamlined process ensures you receive the most funds, in the shortest amount of time, and at the lowest rates possible.
To understand how it all works, we recommend watching the EIN Credit Funding Business Finance Suite
EIN Credit Funding Walk-Through Video click here.
Additionally, you can earn an income by offering our EIN Credit Funding business credit and financing services to others.
Find out more [here].
What exactly is the EIN Credit Funding Business Fundability System? What does it do?
The EIN Credit Funding Business Fundability System includes the EIN Credit Funding Business Credit Builder Program, an online platform designed to guide you through a customized, step-by-step process to build your business credit from start to finish. This program is tailored to your specific situation, making the process of obtaining funds simple and intuitive.
As you progress through the program, you'll know in real-time which lending and credit sources you're pre-qualified or pre-approved for, giving you the confidence to apply with the assurance of approval.
Additionally, you'll receive concierge service from our business credit advisers and finance officers to assist you at any stage. With our revolutionary online platform and live expert team at your fingertips, you're guaranteed to achieve results—provided you actively use the program.
Is this process complicated? Can I really do it?
When our company first started, there was little information on obtaining Business Credit, especially one not linked to an SSN. Over the years, we have fine-tuned and upgraded our instructions and the EIN Credit Funding Business Finance Suite to make it as straightforward as possible.
Every step of the EIN Credit Funding Business Finance Suite includes easy-to-understand educational videos and direct resource links, ensuring your business credit building journey is simple. Should you ever need help, our business credit advisers and finance officers are ready to assist you.
As long as you're committed to following our instructions and serious about your businesses success, you can absolutely do this—even when you're not tech-savvy. However, it's important to understand that we do NOT build your business credit FOR you. We provide clear step-by-step instructions and education. Follow our guidance, and you'll see spectacular results.
How does the process of building business credit actually work?
To begin, it's crucial to establish your business credibly to meet the standards of credit issuers and lenders before applying. The next step involves obtaining real usable credit through vendors who extend credit even without existing EIN credit. These vendors report this credit to business reporting agencies.
Within 60 days or less, this credit activity is reported to Experian, Equifax, or Duns & Bradstreet, establishing a credit report and score for your EIN.
With this established credit profile, you can progressively apply for higher tiers of credit, gaining access to revolving credit at various stores. This credit is tied to your EIN rather than your SSN and does not require a personal guarantee or personal credit check for approval.
As your business credit continues to grow, you can qualify for fleet cards, Visa, and MasterCard cash credit. Having a solid business credit profile significantly enhances your chances of securing loans and credit lines with favorable terms.
